UPS Soars on Delivery Bonanza Spurred by Virus-Era Lockdowns

(Bloomberg) — United Parcel Service Inc. surged toward a record as the courier blew past Wall Street’s expectations thanks to pandemic-era demand for e-commerce deliveries, health-care equipment and goods from Asia.Revenue jumped 13% to $20.5 billion in the second quarter, topping the highest analyst estimate and confounding predictions that sales would drop. Adjusted earnings climbed to $2.13 a share, the company said in a statement Thursday. That was about double the average of estimates compiled by Bloomberg.UPS managed to “crush elevated expectations on surge in volume,” JPMorgan Chase & Co. analyst Brian Ossenbeck said in a note to clients. “Parcel …read more

Source:: Yahoo Finance

      

Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.